At an event yesterday, a Goldman Sachs executive explained why the bank isn’t worried about the profitability of Apple Card, despite other banks reportedly backing out of the deal over such concerns. Today, Goldman CEO David Solomon confirmed that Goldman employees and Apple employees are testing Apple Card ahead of its summer launch.
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Speaking at the Recode Code Conference today, Solomon said that he and other Goldman employees are testing Apple Card right now. Last month, a leak offered our first look at Apple Card out of the box – suggesting that at least Apple employees were testing the card.
Solomon explained that he’s currently one of the Apple Card beta testers – and that he likes the simplicity as well as the way it simplifies bill pay (via CNBC):
“It’s in beta right now; there are some employees at Goldman Sachs and some employees of Apple that are using the card,” Solomon said. “I’m using the card, I like the way it works. I like the simplicity, the lack of friction when it comes to paying bills, looking at what you’ve spent, ease of use.”
Early feedback from beta testers has been positive, Solomon said, with Goldman. and Apple expecting a lot of interest from users. “The early feedback indicated that there will be a lot of interest in it when we finally do launch it later this summer,” he said.
Apple Card will be launched to the public later this summer, a date which Apple doubled down on at WWDC last week.
- Photos: Here’s what the Apple Card will look like out of the box
- How Apple will make money from the Apple Card – and the ways it will save money
- Apple Card tidbits: No support for shared accounts, security details, penalty interest rates, more
- Report: Citigroup pulled out of consumer-friendly Apple Card because of profitability doubts